RPT-German stocks - Factors to watch on November 17

Reuters Staff

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FRANKFURT, Nov 17 (Reuters) - The following are some of the factors that may move German stocks on Friday:

DEUTSCHE BOERSE

The German exchange operator named UniCredit banker Theodor Weimer as its new CEO on Thursday to steer the company away from an insider trading investigation and move on from a failed merger with the London Stock Exchange.

LUFTHANSA

Italian airline Alitalia said government-appointed commissioners met a Lufthansa delegation on Thursday after the German airline expressed interest in buying Alitalia business activities.

VOLKSWAGEN

VW’s supervisory board is expected to sign off on management’s capex and development spending targets for the next two years.

Volkswagen launched its new Virtus model on Thursday to tap Brazil’s highest-volume segment as part of a recovery plan that analysts said will help it regain ground on rivals General Motors and Fiat in South America’s largest car market.

The company is not looking to secure long-term supplies of cobalt, a key ingredient of electric-car batteries, by investing in mines, a senior official at the automaker said.

SIEMENS

Siemens will cut about 6,900 jobs, or close to 2 percent of its global workforce, mainly at its power and gas division, which has been hit by the rapid growth of renewables.

MUNICH RE

Munich Re’s Ergo unit will decide until end-November whether it deems bids for its closed life insurance books as attractive enough to continue the sales process, Germany head Achim Kassow told Handelsblatt.

DAIMLER

The carmaker plans to invest 5 billion yuan ($755 million) in China for factory capacity to manufacture electric cars and the batteries that power them, part of an effort to help its Mercedes-Benz and Smart brands comply with the country’s green car production and sales quotas.

GRAND CITY PROPERTIES

The property group saw 9 month FFO I increase 11 percent to 130 million euros.